{"id":14341,"date":"2022-04-17T17:24:58","date_gmt":"2022-04-17T17:24:58","guid":{"rendered":"https:\/\/www.africa-press.net\/gambia\/uncategorized\/brics-meet-likely-in-june-india-to-attend-china-hosted-event"},"modified":"2022-04-17T18:36:41","modified_gmt":"2022-04-17T18:36:41","slug":"brics-meet-likely-in-june-india-to-attend-china-hosted-event","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event","title":{"rendered":"BRICS meet likely in June, India to attend China-hosted event"},"content":{"rendered":"

Africa-Press – Gambia. <\/strong><\/span>Delhi\u2019s confirmation comes weeks after visit of Chinese Foreign Minister Wang Yi<\/p>\n

Weeks after the visit of Chinese Foreign Minister Wang Yi to Delhi, India has agreed to attend a virtual summit of leaders of the Brazil-Russia-India-China-South Africa grouping, likely to be held at the end of June, sources here have confirmed.<\/p>\n

The dates of the meeting, that will see Prime Minister Narendra Modi on the same platform as Russian President Vladimir Putin, Chinese President Xi Jinping and leaders of Brazil and South Africa for the first time since the Ukraine war began, are still being finalised, the sources said, although June 23-24 have been suggested as dates for the summit.India hosted last year\u2019s BRICS summit, which was also held virtually, and attended by the five leaders. This is the first summit hosted by China since the tensions broke out at the Line of Actual Control (LAC) due to the PLA\u2019s transgressions in April 2020.<\/p>\n

Ahead of this year\u2019s summit, Chinese Foreign Minister Wang Yi visited Delhi last month, which was seen as possibly heralding a gradual normalisation of ties. His visit was notably the first since the LAC stand-off began.<\/p>\n

Ahead of G-7 meet<\/p>\n

Significantly, leaders of the G-7 grouping comprising Germany, France, the United Kingdom, Italy, Japan, Canada and the U.S. will meet in the Bavarian Alps on June 26-28, just a couple of days after the proposed BRICS summit. It is unclear whether PM Modi, who is already travelling for a bilateral meeting to Germany on May 1, is on the list of special invitees to the G-7 summit, which is still being prepared, officials said.<\/p>\n

Meanwhile, a number of other preparatory meetings hosted for the BRICS summit are underway. In a meeting on April 12, BRICS health ministers including Mansukh Mandaviya held a virtual launch of the \u201cBRICS Vaccine R&D Centre\u201d to conduct \u201cvaccine joint research, plant co-construction, authorised local production, and mutual recognition of standards\u201d, the Chinese Ministry of Foreign Affairs said. On Tuesday, counter-terrorism officials will meet to discuss \u201ctargeted Financial Sanctions Related to Terrorism and Terrorist Financing\u201d during a plenary session.<\/p>\n

Trade options<\/p>\n

Ahead of the summit, Sherpas of the five countries, including MEA Secretary for Multilateral and Economic Relations Dammu Ravi, met virtually on April 12-13, to discuss the dates and format of the meetings ahead. They also discussed the agenda, expected to include the Ukraine conflict, financial mechanisms to deal with sanctions against Russia, and cooperation against the Covid-19 pandemic.In a statement released at the end of the Sherpa\u2019s meetings, the Chinese MFA said BRICS countries clarified a \u201ccommon position on the Ukraine issue\u201d during the Sherpa meeting chaired by BRICS coordinator and Vice-Foreign Minister Ma Zhaoxu, expressing concern over the humanitarian situation in Ukraine, and support for multilateralism, adherence to the UN Charter, respect for the legitimate security concerns of all countries, and support for continued dialogue between Russia and Ukraine.<\/p>\n

Speaking at the BRICS Finance Ministers meeting earlier this month, Russian Finance Minister Anton Siluanov called for the use of national currencies for BRICS countries, integration of payment systems and cards, their own financial messaging system and the creation of an independent BRICS rating agency. The measures would effectively circumvent some of the sanctions imposed by the U.S. and European Union, which none of the BRICS countries have joined.<\/p>\n

While India and China have been engaging through the BRICS framework, on the bilateral front, India\u2019s message to China over the past two years has been that it cannot be \u201cbusiness as usual\u201d with the LAC crisis still unresolved.<\/p>\n

Business with Beijing<\/p>\n

One other area of normalcy is the trade front, where business has been booming. Two-way trade in 2021 reached $125 billion, crossing the $100 billion mark for the first time, driven by India\u2019s imports of Chinese goods, most notably electronic products and chemicals, including Active Pharmaceutical Ingredients (APIs), which India\u2019s pharma industry relies on.<\/p>\n

Trade figures released last week showed the trend has continued into the new year, despite New Delhi\u2019s avowed intention of diversifying imports and reducing trade with China, with imports in the first quarter of 2022 reaching $31.96 billion, up 15% from last year\u2019s figure, which was itself a record. Since the start of the pandemic, India has also imported more medical supplies from China than any other country.<\/p>\n

India has, however, kept in place measures to closely scrutinise Chinese investments. Chinese private equity and VC investments have fallen below $1 billion for the first time since 2017, according to research firm Venture Intelligence. New Delhi has also scrutinised the financial practices of Chinese companies in India, with the ED carrying out investigations and raids on a number of firms, including Xiaomi, Huawei and Oppo. Last week, the ED summoned Xiaomi\u2019s former India head, and current Global VP, Manu Kumar Jain, over an investigation into whether it had complied with foreign exchange regulations.<\/p>\n

Some investments from China have, however, been cleared. Minister of State for Commerce and Industry Som Parkash told Parliament last month India had received 347 FDI proposals from neighbouring countries since April 2020. Most are thought to be from China or China-linked firms, and of them, 66 had been cleared, while 193 had been rejected or withdrawn. Those cleared included investments in the auto, chemicals and electronics sectors.<\/p>\n

For More News And Analysis About Gambia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Gambia. Delhi\u2019s confirmation comes weeks after visit of Chinese Foreign Minister Wang Yi Weeks after the visit of Chinese Foreign Minister Wang Yi to Delhi, India has agreed to attend a virtual summit of leaders of the Brazil-Russia-India-China-South Africa grouping, likely to be held at the end of June, sources here have confirmed. […]<\/p>\n","protected":false},"author":84,"featured_media":14340,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,7,8,9],"tags":[2355,2361,5759,5900,260],"class_list":["post-14341","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-head-lines","category-homepage-english","category-miscellaneous","tag-africa-press","tag-africa-press-gambia","tag-brics","tag-china-hosted","tag-gambia"],"yoast_head":"\nBRICS meet likely in June, India to attend China-hosted event - Gambia<\/title>\n<meta name=\"description\" content=\"Delhi\u2019s confirmation comes weeks after visit of Chinese Foreign Minister Wang Yi Weeks after the visit of Chinese Forei ...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BRICS meet likely in June, India to attend China-hosted event\" \/>\n<meta property=\"og:description\" content=\"Delhi\u2019s confirmation comes weeks after visit of Chinese Foreign Minister Wang Yi Weeks after the visit of Chinese Forei ...\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event\" \/>\n<meta property=\"og:site_name\" content=\"Gambia\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/AfricaPressTunisiaa\" \/>\n<meta property=\"article:published_time\" content=\"2022-04-17T17:24:58+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-04-17T18:36:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/04\/img-625c5dfd16dc2.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"625\" \/>\n\t<meta property=\"og:image:height\" content=\"388\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"cfeditoren\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"cfeditoren\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event\"},\"author\":{\"name\":\"cfeditoren\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/#\/schema\/person\/068c7ab4e9634ae78ec5d54ec46598bb\"},\"headline\":\"BRICS meet likely in June, India to attend China-hosted event\",\"datePublished\":\"2022-04-17T17:24:58+00:00\",\"dateModified\":\"2022-04-17T18:36:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event\"},\"wordCount\":900,\"commentCount\":0,\"image\":{\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event#primaryimage\"},\"thumbnailUrl\":\"https:\/\/static.africa-press.net\/gambia\/sites\/19\/2022\/04\/img-625c5dfd16dc2.jpg\",\"keywords\":[\"Africa Press\",\"Africa Press-Gambia\",\"BRICS\",\"China-hosted\",\"Gambia\"],\"articleSection\":[\"all news\",\"head lines\",\"homepage-english\",\"miscellaneous\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event\",\"url\":\"https:\/\/www.africa-press.net\/gambia\/all-news\/brics-meet-likely-in-june-india-to-attend-china-hosted-event\",\"name\":\"BRICS meet likely in June, India to attend China-hosted event - 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